Urgent Call for Climate Finance Reform a Decade After Carney's Landmark Speech

September 29, 2025 - 21:12

MONTREAL — A decade after Prime Minister Mark Carney delivered a pivotal address highlighting the financial risks posed by climate change, global organizations have united in urging for significant reforms to the financial system. In an open letter released on Monday, these groups emphasized the urgent need for action to address the mounting threats that climate change presents to economic stability.

The letter outlines a series of recommendations aimed at integrating climate risk into financial decision-making processes. It stresses that failure to act could exacerbate existing vulnerabilities within the financial system, potentially leading to severe economic repercussions. The organizations argue that the time for dialogue has passed and that decisive steps must be taken to mitigate these risks.

As the impacts of climate change become increasingly evident, the call for reform is more pressing than ever. Stakeholders are urged to prioritize sustainable finance initiatives that align with long-term environmental goals, ensuring that the financial sector plays a proactive role in combating climate change.